Indiana § 5-13-9.3-5 Principal and interest of money in the fund; appropriation required;
limits

Indiana Statutes

§ 5-13-9.3-5 — Principal and interest of money in the fund; appropriation required; limits

Indiana § 5-13-9.3-5

Title 5STATE AND LOCAL ADMINISTRATION

Art. 13INVESTMENT OF PUBLIC FUNDS

Ch. 9.3Investment of Proceeds Received From the Sale of

This text of Indiana § 5-13-9.3-5 (Principal and interest of money in the fund; appropriation required; limits) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-13-9.3-5 (2026).

Text

The following apply to money deposited in the fund:

(1)The principal of the fund consists of:

(A)the amount deposited in the fund as the proceeds from the sale of the capital asset; plus

(B)any investment income that is:

(i)earned on money in the fund; and

(ii)added to the principal of the fund as provided in subdivision (2).

(2)To the extent that investment income earned on money in the fund during a calendar year exceeds five percent (5%) of the amount of the principal at the beginning of the calendar year, that excess investment income shall, for purposes of this chapter, be added to and be considered a part of the principal of the fund.

(3)Money may be expended from the fund only upon appropriation by the fiscal body of the political subdivision. Money may be transferred from th

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The following apply to money deposited in the
fund:
(1) The principal of the fund consists of:
(A) the amount deposited in the fund as the proceeds from the
sale of the capital asset; plus
(B) any investment income that is:
(i) earned on money in the fund; and
(ii) added to the principal of the fund as provided in
subdivision (2).
(2) To the extent that investment income earned on money in the
fund during a calendar year exceeds five percent (5%) of the
amount of the principal at the beginning of the calendar year, that
excess investment income shall, for purposes of this chapter, be
added to and be considered a part of the principal of the fund.
(3) Money may be expended from the fund only upon
appropriation by the fiscal body of the political subdivision.
Money may be transferred from the fund to another fund of the
political subdivision only if the fiscal body of the political
subdivision authorizes the transfer by ordinance (in the case of a
county or municipality) or by resolution (in the case of any other
political subdivision). However, an expenditure or transfer of any
money that is part of the principal of the fund may be made only
if the expenditure or transfer is approved:
(A) by each member of the fiscal body of the political
subdivision; and
(B) by each member of the executive of the political
subdivision.
(4) All money in the fund that is in a deposit account and not in
some other form of investment shall be deposited in one (1) or
more designated depositories of the political subdivision in the
same manner as other public funds of the political subdivision are
deposited under IC 5-13-9.